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Kazulsk Bank
'''Kazulsk Bank '''is the central bank of Kazulia. Subordinate from traditional central bank responsibilities such as financial stability and price stability, Kazulsk Bank manages the nation's Critical Investment and Stabilisation Fund (CISF). It was formed as a private financial institution to manage the personal accounts of the monarchy of kazulia, however as time progressed it shifted from being under the direct control of the monarchy (later the President) to the Department of Finance. In 4301, the Bank announced that it had reached its 1,000th employee mark and would move towards expanding the systems of the bank. The Board of Governors is appointed by the monarch on the advise of the Council of Ministers. The Governor of the Central Bank, is in a similar manner, the Chairman of the Board of Governors. The Governor of the Central Bank appoints the CEO of the Critical Investment and Stabilisation Fund. History Kazulsk Bank began government operations in 3801, after the passing of the Kazulsk Bank Act. Initially the Bank had been formed as a private financial institution to manage the personal accounts of the monarchy of Kazulia, however as time progressed it shifted from being under the direct control of the monarchy to the Ministry of Finance. Prior to its establishment, then economist Øystein Nystuen, proposed to the monarchy recommendations in favour of the establishment of a central bank for Kazulia. In 3795, a convention on the formation of a central bank for the Kingdom of Kazulia was launched with the primary intention of scrutinising the recommendations made by Nystuen. Within the recommendations, it had been proposed that the responsibility of printing the nation's currency, be bestowed onto the proposed central bank rather than directly from the Ministry of Finance, thus making Kazulsk Bank the sole issuer of legal tender banknotes in and under Kazulia. Under the Kazulsk Bank Act, the central bank of Kazulia was formed and immediately trouble arose. When the civil war had ended, it became clear to the government that the economic hardship would last for a while unless they formed a response. Thus, it had been decided that the central bank with be directed towards increasing the money supply to generate low interest rates, and incentivize economic development. Since the Civil War, the main priority of the central bank has been to maintain inflation at a low rate and support the economic development initiatives of the government. Financial Assets The Bank acts as the official custodian to official gold reserves of Kazulia and various other nations. Housed underneath Fortress Rauoasandr, the 30,000 acre vault is said to be under 24-hour protection by the Federal Police and in some cases the Home Guard (during times of national uncertainty). The bank is said to be holding around 30,000 gold bars for Kazulia with an unstated amount for other nations. Although their official value has not been confirmed many speculated that the bullion deposit of the bank could be about $60 Billion LOD. The Critical Investment and Stabilisation Fund Category:Government and politics of Kazulia Category:Economy of Kazulia Category:Kazulia